Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Just think of all the fun to be had if Facebook get to launch their new currency, the Libra.

Amusing smilies aside, you ought to realise that beneath what may sometimes appear to be banter, I do in fact despise you. Don't be flattered, my contempt is free to all lefties who support the indoctrination of children. ~Memnoch, Dec 2014.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

God help us if we ever do get to that point. I'm guessing if we did the banks would have gone out of business and you're not going to be able to do your Co-op shop with gold, it won't pay your utilities. Explain to me how Gold would protect the average Joe, surely it would more likely make him a target.

It is not so wild a theory. There are many examples of seriously inflating currencies in the world today (Iran, Ukraine, Turkey) and in Venezuala's case, they are suffering hyperinflation and yes, the grocery stores are empty and armed gangsters are running around in the streets. People in these countries who have kept their wealth in their national currencies have been wiped out. Recipients of GBFOP are getting GBFFA.

The monetary system is a totally man-made construct, and a very flawed construct at that. The US' power since the end of WW2, has been largely based on the USD being the reserve currency due to the US owning all the world's gold after WW2. Because the US abused this power and created and spent way more dollars into the economy than they had gold to back them up, Nixon was forced to 'suspend' the Bretton Woods gold backed dollar system in the 70's, at which point the likes of Henry Kissinger went out to the Middle East and convinced the Saudi's and other OPEC nations to do all their oil deals in US dollars in exchange for political and military support. Since then, we have been on a Petrodollar system, backed up by the might of the US military and the US government and financial system has grossly abused their power........but now they have a competitor emerging.

China, still the #1 foreign holder of US treasuries, knows they are getting stiffed by putting their wealth into US treasuries but has gladly played along in this game for the past few decades in exchange for vast economic growth. Now, China and it's allies are attempting to move away from the US dollar and the US' response has been to attempt to tighten it's geo-political grip in key regions such as the Middle East, where Iran is a keystone supplier of oil to the Chinese economy and Russia to the North, which is a major military thorn in the US' side. Among the wars and proxy wars, has been the rampant application of 'sanctions' on regimes or individuals seen as non-compliant to the USD hegemony. These sanctions have hit certain economies very hard, and the likes of Russia and China know that they need to come up with an alternative means of international settlement (other than the USD) to facilitate trade with key allies. Neither of their currencies are currently up to the task, but gold would be up to this task and it just so happens that the central banks of these countries have been stock piling gold for the past two decades and it just so happens that their central banks have serious plans to launch a gold backed crypto-currency to facilitate international trade without having to rely on the US dollar system.

Regardless of what comes of all of this and whether China and Russia launch some kind of gold backed means of international settlement or not, this trend alone is reason enough for gold to explode to the upside to an order of several magnitude.

Another good reason is that there is more money in the world today than there has ever been. Exponentially more money, and growing (exponentially). That money has to go somewhere. In the main, that money has been going into bonds and the spill over into the equity markets, especially US equities with the major indices up around 500% over the past decade. However, the bond markets are maxed out. Interest payments on 30 year treasuries are around 2%! In many places, including the EU, interest rates on shorter term bonds are negative (try and figure out how that works). Equity markets are also maxed out and institutional money is net exiting the stock markets. So where else is left for all those man-made digits that our entire world evolves around, to flow into?

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Bobson, I'm not quoting all that just replying to you in this post. Even if your theory isn't so wild, if it ever comes to currencies and banks collapsing people are going to have to be prepared to do a little more than have a bit of gold salted away. Wouldn't it be better to invest your time and money making yourself self sufficient now? And even that's not without problems. Where would you go, how would you protect what's yours from other people? And what exactly will you be spending your gold on if it comes right down to it? I just find more questions than answers with your advice to buy gold.

Amusing smilies aside, you ought to realise that beneath what may sometimes appear to be banter, I do in fact despise you. Don't be flattered, my contempt is free to all lefties who support the indoctrination of children. ~Memnoch, Dec 2014.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Bobson, I'm not quoting all that just replying to you in this post. Even if your theory isn't so wild, if it ever comes to currencies and banks collapsing people are going to have to be prepared to do a little more than have a bit of gold salted away. Wouldn't it be better to invest your time and money making yourself self sufficient now? And even that's not without problems. Where would you go, how would you protect what's yours from other people? And what exactly will you be spending your gold on if it comes right down to it? I just find more questions than answers with your advice to buy gold.

Buy gold, dig a GBFOH, preferably on a desert island, draw a map with X marks the spot, join the rest of humanity in the post apocalyptic shithole, die in the knowledge that some lucky fucker will find it in 5,000 years.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Buy gold, dig a GBFOH, preferably on a desert island, draw a map with X marks the spot, join the rest of humanity in the post apocalyptic shithole, die in the knowledge that some lucky fucker will find it in 5,000 years.

Nothing wrong with a little discussion around a hypothetical apocalyptic scenario.

Amusing smilies aside, you ought to realise that beneath what may sometimes appear to be banter, I do in fact despise you. Don't be flattered, my contempt is free to all lefties who support the indoctrination of children. ~Memnoch, Dec 2014.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

At the end of the day, money people have come to the conclusion Germany is going to be seriously fucked after the British escape. They will have little choice but to raise taxes to fund the European dream of exit the group themselves.
France has the same options, as does Ireland, the latter being far better off if they rejoin the United Kingdom.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

Bobson, I'm not quoting all that just replying to you in this post. Even if your theory isn't so wild, if it ever comes to currencies and banks collapsing people are going to have to be prepared to do a little more than have a bit of gold salted away. Wouldn't it be better to invest your time and money making yourself self sufficient now? And even that's not without problems. Where would you go, how would you protect what's yours from other people? And what exactly will you be spending your gold on if it comes right down to it? I just find more questions than answers with your advice to buy gold.

I agree.

If it really 'comes to all that', you will have bigger problems to deal with than how much your gold pieces will sell for at some bullion vault in Zurich.....but history tells us that true apocalyptic events are relatively rare, so it probably won't come to that.

The 'business cycle' however turns around regularly, whereby wealth flows into different asset classes depending on where the best value is to be found and/or where worst value isn't to be found. As this cycle starts to max out, smart money starts exiting and needs somewhere to go during the transitory phase where neither stocks, bonds, or even cash is safe. One of those places, has always been gold and every 40 or so years, gold trades at close to 1:1 with the Dow. Dow is currently $26K. Gold is currently $1.5K.

I am advocating gold not as a means of staving off the end of the world, but as a fucking solid investment, where every other investment you might own (including GBFOP) are shortly going to be in for a very tough time.

Since I advised buying gold around 1 month ago, it has went up over 15%. Not bad performance by anybodies standards and in the long run, that rise will look like a little blip.

Re: Good news for Brexit, bad news for Germany and the EU.........(and the rest of...

You haven't seen Germany's latest export figures have you? They (and the EU) aren't slipping into a recession, they are charging into a train wreck. There is big big trouble ahead for Germany/Eurozone.

None of this is going to be good for anyone.....

......but as for the EU punishing Britain for a no deal Brexit.....aint gonna happen. They are going to be too busy trying to safe themselves. Any political head pushing the punitive agenda in the midst of the economic shit storm that is in the pipelines will get fucking lynched.